There was a welcomed flash of bipartisanship last night on the Senate floor during the on-going debate on a fiscal 2014 budget plan as more than three-fourths of the Senators voted to repeal the new excise tax on medical devices. The bipartisan amendment offered by Senators Hatch and Klobuchar would repeal the onerous 2.3 percent excise tax , which went into effect on January 1st, as part of the Affordable Care Act. The tax impacts medical device manufacturers of all sizes, including start-up companies that often are on the cutting-edge of developing new products. By increasing the costs of medical devices, the excise tax hurts the device manufacturers and their workers and also stifle the research and innovation that leads to the development of medical products that contribute to the health and well-being of all Americans. The additional costs imposed by the tax will make it more difficult for U.S. medical device manufacturers to compete in the global marketplace and threaten U.S. jobs, investment and our nation’s leadership in life sciences. We certainly appreciate the broad support for repeal in the Senate and strongly encourage policy makers to move ASAP to send a bill to the White House that gets rid of this ill-conceived tax. All Americans will benefit!
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